Saraswat Co-operative Bank Ltd. will formally unveil its plan to absorb New India Co-operative Bank Ltd. at a 5 p.m. press conference, 1 July 2025, inside its Ekanath Thakur Bhavan headquarters in Prabhadevi, Mumbai.
The proposed tie-up has already secured in-principle approval from the Reserve Bank of India, positioning it as one of the most consequential consolidations in the urban co-operative banking space this year.
By bringing New India Co-op Bank’s deposit base, branch footprint and workforce under its umbrella, Saraswat Bank expects to broaden customer reach, streamline day-to-day operations and unlock scale-driven efficiencies.
According to management sources, integration roadmap, covering technology migration, product rationalisation and staff assimilation, will be detailed at the briefing, where assurances are likely to be given on safeguarding depositor interests and preserving employee roles.
Sector analysts view the move as a bellwether for more mergers among India’s nearly 1,500 urban co-operative banks, a segment regulator have urged to seek scale for stronger governance and capital adequacy. If completed smoothly, the deal could become a template for future partnerships aimed at fortifying the co-operative banking ecosystem nationwide.
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